BAKU, Azerbaijan, Dec. 29
By Zeyni Jafarov – Trend:
The Azerbaijani banking sector reduced its total liabilities by 7.3 percent as of early December 2020 compared to the same period of 2019, Trend reports citing a statistical report of the Central Bank of Azerbaijan (CBA).
In accordance with the report, the total liabilities decreased by slightly over 2 billion manat ($1.2 billion) to nearly 26.1 billion manat ($15.3 billion).
In the structure of liabilities, a big part (over 74 percent) accounts for deposits (excluding deposits to the financial institutions), the volume of which decreased by 9.4 percent for the year up to 19.3 billion manat ($11.3 billion).
At the same time, most part (60 percent) accounted for the deposits of legal entities in the amount of 11.5 billion manat that’s $6.7 billion (a drop of 10.2 percent), of which 9.43 billion manat ($5.5 billion) accounted for demand deposits.
The individuals' deposits decreased by 8.3 percent up to 7.8 billion manat ($4.6 billion), of which more than 61 percent accounted for term deposits in the amount of 4.76 billion manat ($2.8 billion). Deposits of financial institutions amounted to 1.1 billion manat ($647 million) or 5.8 percent of all deposits.
The banks' liabilities to the Central Bank of Azerbaijan amounted to 525.7 million manat ($309.2 million), which is 199.6 million manat ($117.4 million) more than in the previous year. Loro accounts amounted to 182.3 million manat ($107.2 million).
The volume of loans from banks and financial institutions amounted to 2.1 billion manat ($1.2 billion), practically unchanged since the beginning of the year. The issued securities of the country's banks totaled 1.7 billion manat ($1 billion) or 6.5 percent of the total amount of liabilities. Other liabilities amounted to 1.1 billion manat ($647 million).
In accordance with the report, the total capital of banks for the reporting period of this year decreased by three percent and amounted to 4.6 billion manat ($2.7 billion), while the banks' own capital amounted to 4.3 billion manat ($2.5 billion) and the capital reserves of the bank – 311.6 million manat ($183.3 million).
(1 USD = 1.7 AZN on Dec. 29)
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